(Reuters) – U.S. stock futures rose in volatile trading on Tuesday after a closely followed forecasting website said chances had fallen that the Democratic party would win the House of Representatives in U.S. midterm congressional elections.
In line with opinion polls, Wall Street had been expecting that President Donald Trump’s Republican party would lose control of the House while retaining the Senate, setting up gridlock in Washington.
S&P 500 e-mini futures EScv1 moved higher as election results trickled in and as polling website FiveThirtyEight said the likelihood of the Democrats winning the House had decreased to under just over 50 percent. Earlier, FiveThirtyEight gave the Democrats more than a 90 percent chance of winning the House.
During Tuesday’s trading session, stock market indexes closed higher, but trading volume was thin as investors held back on making big bets ahead of the vote count.
Additional reporting by Sinead Carew, April Joyner in New York and Sruthi Shankar in Bengaluru